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Intersect Secures Financing For Solar And BESS Projects In US
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News: Intersect Power has secured USD3.1bn in financing to fund the construction and operation of solar projects and battery energy storage projects in the US. The financing package includes around USD1bn of construction financing, USD775.0mn of tax equity, operational letters of credit and a USD675.0mn portion of portfolio-level term debt. The financing will back four projects: Lumina I and Lumina II totalling 840MWp of combined capacity in the state of Texas; and Oberon I and Oberon II with 685MWp capacity-plus-1GWh of storage in the state of California. All projects are due to be operational in 2023 (Renewables Now).
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